WASHINGTON – There are only two weeks to prevent the U.S. from ending up in default, but Barack Obama and congressional leaders are still struggling to reach agreement on raising the U.S. debt ceiling.
The parties were to meet at the White House on Saturday morning, after a stormy night marked the start of the Republican chairman of the House of Representatives John Boehner, who left the negotiating table on Friday night.
In an improvised press conference, Barack Obama, obviously very upset, John Boehner called back to the White House with the head of the Senate Majority Harry Reid on Saturday morning, the group leader Senate Republican Mitch McConnell and the head of the Democratic Caucus in the House of Representatives Nancy Pelosi.
“We have more time and they will have to explain how we will avoid a default,” he told the head of the White House.
John Boehner has agreed to return to the White House, while blaming Barack Obama for the failure of the discussions. “The president has broken its commitments and demanded more money at the last minute,” he accused. “And the only way to get the extra revenue was to raise taxes.”
Congress has until August 2 to increase the borrowing capacity of the government beyond its current limit of 14,300 billion. Failing agreement, the Treasury would be unable to pay its maturing debts.